Coach sold its real estate stake in Manhattan's Hudson Yards development for about $707 million in August. But while it has the money and has discussed M&A as a potential strategy, the 75-year-old company is also going through a major turnaround plan of its own. New York-based Coach, which relies on replica handbags for more than half of its sales, is expanding into accessories and shoes. It's been aggressively promoting the Stuart Weitzman footwear brand, which it bought last year, while developing products to woo shoppers to pay full price. Coach has posted three straight quarters of revenue growth after halting nine ralph lauren outlet quarters of declines. But it faces ongoing pressure from tourism traffic in its outlet stores, which drive more than half of its North American sales, said Scott Krasik, an analyst at the Buckingham Research Group. "We see fewer opportunities for Coach to drive margin expansion going forward without better cheap ray ban sunglasses sales growth," he wrote in a note this month. Michael Kors is also diversifying, with aggressive plans to expand products for men and its new smartwatch and fitness tracker lines made by cheap louis vuitton Fossil Group Inc. Like Ralph Lauren and Kate Spade, the fashion house is selling less to department stores, even if it means sales will suffer in the short term.